Los Angeles daily herald., 1887-07-10

agent came and found that land had
increased in value 25 per cent. since
the visitors were here but considered
it safe to invest at the advance price
and accordingly took property last
week to the extent of 1855, 900 on
which they will probably double their
purchase money in year. This
property was mentioned in the HER
AID many months ago and it seems
that all property that has its advan-
.tages mentioned in the HERALD meets
with favorable reception by the
people.
Judge j. DE- Bicknell yesterday pur-
chased from M. l.. Wicks a lot 60x300
feet, on Fort street, below Second,
paying therefor $4,000.
During the past week nearly $4,000
900 worth of real estate has changed
hands, and there seems to be no pros
pect of abatement. As before stated,
all sections are sharing in the general
prosperity. Outside property is look
ing particularly well, and the transfers
are immense.
Messrs. Schmidt & Henton were of
the opinion that values had increased
ut very rapid rate since the estab-
lishment of the depot at the foot of
First street. In their opinion the
boom in that section had not been
concluded, but was much enhanced by
the selection of the Wolfskill tract as
a site for the Southern Pacific depot.
Messrs. Day and Siddall said that the
increase in values in the vicinity had
in many instances been as much as
800 per cent. within the last few
months. They mentioned tracts in
the vicinity of Second street and Ala
media, which could have been pur-
chased at 5000 per lot when first
offered, and now they were being sold
at $500. Other properties in the
same vicinity were going at like
advance, but in their opinion, the
advance in the next six months would
not be as great as in the past, though
they were of the opinion that the
present is good time to buy.
Messrs. Bryan d PoindeXter knew
from personal experience that there
had been an enormous advance in prop
critics in the vicinity of Second street
below Main. One corner on Main
near Los Angeles was held for 500
per foot, which value they
thought was liable to be raised. The
coming influx of visitors in the fall
and winter would no doubt create
quite a boom.
Messrs. Humphreys and Rig
gin were aware of the fact that
had increased in value in a
very short time. They mentioned in
stances of small holders who had
cleared from 40 to go per cent. on the
invested in very limited
space of time. The rush of visitors
expected this fall and winter would
no doubt have a great influence on the
market but with their customers they
them to be satisfied with a
profit of 100 per cent. The question
as to whether the Southern Pacific
depot would be placed on the Wolfskill
tract had some influence on property
in that vicinity and some of the own
ers seemed to have an extravagant idea
of what their lots were worth. In some
instances these owners raised the ask
ing prices without being warranted by
the state of the market and yet some
sales had been made at amazingly
high prices.
Lukenbach & Chesbro were also of
the opinion that property has increased
in value very rapidly since the estab-
lishment of the depot at the foot of
First street. Their own experience
showed the rise to be more rapid than
in any other section during the same
space of time.
Messrs. Long & sStedman thought
that there would be continuance of
the boom below Main street in the
of First and Second streets
and in case the Southern Pacific depot
is placed on any particular spot in
this neighborhood it will have the
effect of further heightening values.
Some sales have already been made at
advanced rates on the strength of the
reports of the selection OF the depot
site.
Some of the prominent real estate
items yesterday consisted of record
Of the sale of the interest Of JOtham
Bixby in the Palos Verdes rancho for
the sum of 1866, 900; A. w. Timms'
interest in the same rancho, $25, 900; +;
Andrew 7. Carey, his highland rancho
above Duarte, for $50, 900, and D. M.
his orchard and vineyard,
for $4S, 900, the total amount recorded
to $713, 1904. This amount
is very good for Saturday, but can be
beaten on a fair business day.